The Nasdaq stock exchange has denied a request by radiation therapy products firm North American Scientific (NAS) to continue to list the company's stock on the Nasdaq Global Market exchange.
Nasdaq notified NAS on September 25 that the company did not comply with the exchange's $10 million stockholder's equity rule, alternate minimum $50 million market value of listed securities, and its 30-day $1 per share price requirement.
As a result of the denial, NAS stock will be delisted from Nasdaq on October 24 unless the company requests a hearing with a Nasdaq listing qualifications panel, which NAS said it intends to do. The company's stock will remain listed on Nasdaq under the symbol NASI pending the outcome of the appeal.
By AuntMinnie.com staff writers
October 17, 2007
Related Reading
NAS receives Nasdaq notice, October 9, 2007
NAS gets loan extension, October 5, 2007
NAS lands brachytherapy supply deal, October 3, 2007
NAS ClearPath used in APBI procedure, September 28, 2007
NAS receives Nasdaq notice, September 25, 2007
Copyright © 2007 AuntMinnie.com
